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Computer-Implemented Methods, Program Product, And System To Enhance Banking Terms Over Time

  • US 20090164364A1
  • Filed: 12/18/2008
  • Published: 06/25/2009
  • Est. Priority Date: 12/21/2007
  • Status: Active Grant
First Claim
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1. A system to manage access to a line of credit, the system comprising:

  • a plurality of customer access interface devices;

    a remote computer server positioned to provide communication with each of the plurality of customer access interface devices and being associated with a financial institution, the computer server having memory; and

    a program product stored in the memory of the computer server so that the program product operates to perform the following set of instructions;

    determining eligibility for a line of credit program from a financial institution responsive to a consumer'"'"'s prior enrollment in a prepaid card program and one or more of the following;

    the consumer'"'"'s historical direct deposit data, and data associated with the consumer'"'"'s historical behavior in the prepaid card program,enrolling the consumer in the line of credit program through an on-line process, the consumer having been determined eligible, enrollment being responsive to an acceptance of terms and conditions of the line of credit program by the consumer,extending an amount of available credit to the enrolled consumer through the line of credit program defining a consumer credit limit, the consumer credit limit being capped through underwriting criteria to ensure that no more than a predetermined percentage of a consumer'"'"'s historic direct deposit amount is required for minimum repayments associated with the line of credit program,receiving authorization for an advance under the line of credit program from the consumer so that the consumer authorizes all advances,assessing a loan advance fee of a predetermined percentage of the value of the advance,receiving loan repayments over one or more predetermined direct deposit periods, andchanging the consumer credit limit by preselected increments responsive to a change in the consumer'"'"'s direct deposit amount.

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